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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEuro zone economy falls deeper than expected into recession
(Reuters) - The euro zone slipped deeper than expected into recession in the last three months of 2012 after its largest economies, Germany and France, shrank at the end of a wretched year for the region.
It marked the currency bloc's first full year in which no quarter produced growth, extending back to 1995. For the year as a whole, gross domestic product (GDP) fell by 0.5 percent
Economic output in the 17-country region fell by 0.6 percent in the fourth quarter, EU statistics office Eurostat said on Thursday, following a 0.1 percent output drop in the third.
The quarter-on-quarter drop was the steepest since the first quarter of 2009 and more severe than the average forecast of a 0.4 percent drop in a Reuters poll of 61 economists.
http://www.reuters.com/article/2013/02/14/us-europe-economy-idUSBRE91D0CX20130214
xchrom
(108,903 posts)dixiegrrrrl
(60,010 posts)Amazing we have all these economic "experts" in government who, time after time, remain surprised by the wretched economy.
bemildred
(90,061 posts)Everybody knows that austerity makes your economy take off like a new Ford.
Or they could hire better expecters.